Regulatory Alerts2016-11-24
Circular on Eligibility for Board Membership
The Bank of Botswana has issued revised criteria for board membership in licensed banks, specifying additional categories of ineligible persons and exempted individuals. The updated rules disqualify government officials, parastatal employees, audit firm partners and senior auditors, oversight authority board members, and politically exposed persons from serving as directors. Conversely, employees and lecturers from designated tertiary institutions, including the University of Botswana and BIUST, are explicitly exempted from these restrictions.
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